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A deregulated or liberalised electricity market gives eligible consumers (contestable) additional options to buy electricity from retailers or from the wholesale electricity market.

Deregulation makes the retail market more efficient by encouraging competition amongst retailers. Contestable consumers benefit from a variety of options to manage their energy costs and can choose from a range of competitively-priced electricity plan.

If you decide not to switch to become a contestable consumer, you will continue to purchase electricity from SP Services at the prevailing regulated tariff.

The Singapore government embarked on the deregulation of the electricity market in order to introduce competition and achieve a more efficient market.

The deregulated market has so far benefited customers through more competitive electricity prices and electricity package choices. Under the deregulated market, contestable customers are free to choose independently from any licensed Electricity retailers, such as MyElectricity Pte Ltd

Since 2001, the retail electricity market has been liberalised in phases to promote the efficient supply of competitively priced electricity, with plans to open up the market eventually to full competition. The introduction of competition among the retailers benefits contestable consumers with improved services, greater efficiency, competitive prices and innovative products.

Yes, the Energy Market Authority is working with the industry to implement Full Retail Contestability within the next few years. This phase will involve all electricity consumers in Singapore, including about 1.2 million households.

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